American National Bank cut its stake in Caterpillar Inc. (NYSE: CAT – Get Rating) by 7.2% during the 1st quarter, HoldingsChannel.com reports. The fund owned 25,956 shares of the industrial products company stock after selling 2,015 shares during the period. American National Bank’s holdings in Caterpillar were worth $ 5,784,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. Beacon Financial Group boosted its holdings in Caterpillar by 6.5% in the first quarter. Beacon Financial Group now owns 1,219 shares of the industrial products company stock valued at $ 273,000 after acquiring an additional 74 shares during the last quarter. DNB Asset Management AS boosted its holdings in Caterpillar by 11.5% in the first quarter. DNB Asset Management AS now owns 140,851 shares of the industrial products company stock valued at $ 31,384,000 after acquiring an additional 14,558 shares during the last quarter. Monterey Private Wealth Inc. bought a new stake in Caterpillar in the first quarter valued at approximately $ 313,000. Bath Savings Trust Co boosted its holdings in Caterpillar by 13.7% in the first quarter. Bath Savings Trust Co now owns 2,906 shares of the industrial products company stock valued at $ 647,000 after acquiring an additional 351 shares during the last quarter. Finally, Cedar Brook Financial Partners LLC bought a new stake in Caterpillar in the first quarter valued at approximately $ 223,000. Institutional investors and hedge funds own 67.44% of the company stock.
A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. increased their price target on Caterpillar from $ 241.00 to $ 257.00 and gave the stock an “overweight” rating in a report on Monday, March 28th. Deutsche Bank Aktiengesellschaft cut their price target on Caterpillar from $ 250.00 to $ 240.00 in a report on Friday, April 29th. Tigress Financial increased their price target on Caterpillar from $ 278.00 to $ 282.00 and gave the stock a “buy” rating in a report on Friday, May 20th. Robert W. Baird reiterated an “outperform” rating and issued a $ 280.00 target price on shares of Caterpillar in a report on Thursday, May 19th. Finally, StockNews.com began coverage on Caterpillar in a report on Thursday, March 31st. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $ 243.71.
Shares of CAT opened at $ 192.64 on Monday. Caterpillar Inc. has a fifty-two week low of $ 179.67 and a fifty-two week high of $ 237.90. The business has a 50-day moving average of $ 214.38 and a 200 day moving average of $ 210.84. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.93 and a current ratio of 1.44. The firm has a market cap of $ 102.75 billion, a P / E ratio of 16.15, a price-to-earnings-growth ratio of 1.27 and a beta of 0.94.
Caterpillar (NYSE: CAT – Get Rating) last issued its earnings results on Thursday, April 28th. The industrial products company reported $ 2.88 EPS for the quarter, topping the consensus estimate of $ 2.60 by $ 0.28. Caterpillar had a return on equity of 35.10% and a net margin of 12.33%. The business had revenue of $ 13.60 billion during the quarter, compared to the estimate consensus of $ 13.49 billion. During the same quarter last year, the company earned $ 2.87 EPS. The firm’s revenue was up 14.4% compared to the same quarter last year. As a group, research analysts predict that Caterpillar Inc. will post 12.64 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 19th. Shareholders of record on Wednesday, July 20th will be paid a $ 1.20 dividend. The ex-dividend date of this dividend is Tuesday, July 19th. This represents a $ 4.80 annualized dividend and a yield of 2.49%. This is an increase from Caterpillar’s previous quarterly dividend of $ 1.11. Caterpillar’s dividend payout ratio (DPR) is currently 37.22%.
In other Caterpillar news, Director David Maclennan purchased 600 shares of the company stock in a transaction dated Thursday, May 5th. The stock was purchased at an average price of $ 219.82 per share, for a total transaction of $ 131,892.00. Following the transaction, the director now owns 2,480 shares in the company, valued at approximately $ 545,153.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Joseph E. Creed sold 2,757 shares of Caterpillar stock in a transaction dated Wednesday, May 18th. The shares were sold at an average price of $ 214.13, for a total value of $ 590,356.41. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,577 shares of company stock valued at $ 2,663,056. 0.18% of the stock is owned by corporate insiders.
Caterpillar Company Profile: (Get Rating)
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines worldwide. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact track and multi-terrain loaders, excavators, motorgraders, pipelayers, road reclaimers, site prep tractors, skid steer loaders, telehandlers, and utility vehicles; mini, small, medium, and large excavators; compact, small, and medium wheel loaders; track-type tractors and loaders; and wheel excavators.
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